If you look at the late-binding example the following is including: -
@OData.Community.Display.V1.FormattedValue and
@Microsoft.Dynamics.CRM.lookuplogicalname
This is npt late binding per say but is rather related to OData.
The first @OData.Community.Display.V1.FormattedValue returns the text value. Thus no need to perform any additional functions.
The second @Microsoft.Dynamics.CRM.lookuplogicalname returns the entity logical name such as “contact” etc
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